A cost-benefit analysis of the decisions made by Massey Energy and its management. To stakeholders, it makes it clear that the executive officers received fair compensation based on the increased earnings the company generated. However, as may be inferred from the appalling working conditions and disregard for the advised safety laws, the employees did not receive adequate compensation (Coglianese 22).
Risk issues that should have been addressed but were not were frequently brought up by miners and mine managers. The company's managers' apparent lack of accountability and integrity succinctly demonstrates the failure to fulfill obligations and capacity to foster corruption. Therefore, if only the management had corporate with government regulatory agencies and agreed to observe the safety regulations and followed the recommended operations protocols and took into consideration the risk concerns raised by the United Mine Workers Union, the fatal accident that eventually claimed 29 lives while injuring other employees would have been prevented (Newton-Matza 78-82).
Response to Question 2
I believe Massey Energy behaved in an unethical manner. According to Lawrence (55), utilitarianism, as applied to ethical reasoning, offers the suggestion that moral principle should take precedence in a situation where a morally right course is able to result in the greatest desired benefits compared to harm.
In the case of the Massey Energy and its managers, neglecting the miner's risk concerns and overlooking the opportunity to implement safety regulations led to more harm compared to the desired benefits following the decision made by the management not to observe safety rules.
Applying justice to ethical reasoning imparts the moral principle that regards equity (Lawrence, 60). Examining the case study, the employees operated in unfavorable working conditions, hence they deserved to be listened to and their right to life honored by establishing an enabling working environment, which was not the case.
Virtue, as applied to ethical reason, shows that the company and its management held no values and their characters were questionable. The management encouraged corruption and thwarted all the efforts towards owning up to fines against failure to implement safety regulations. Nevertheless, Rights informs ethical decision making by recommending that all the employees be entitled to integrity respect and honor that regards the right to life, safety, and justifiable remuneration that promotes individual well-being. Unfortunately, Massey Energy and its managers only focused on making huge profits.
Response to Question 3
There are various steps that should be taken henceforth to prevent possibilities of a repeat of a similar incident. First, the government regulatory agencies and policymakers should evaluate mining companies’ conditions, recommend safety regulation measures, and policymakers put in place stringent rules as well as penalties for those that fail to implement the recommendations.
The personnel heading the agencies should not be of questionable characters and values to ensure that regulations are implemented as per the standards (Carrigan and Cary 19). Secondly, the workers through their unions should constantly monitor and report on any anomalies that might endanger their livers. In case the company fails to take action, they should immediately report such situations and issues to the regulatory agencies to take the most appropriate actions.
Thirdly, the company through its management should ensure that the work environment is made favorable. It should ensure implementation of all safety regulations and advice while making certain that all employees operate as per the recommended procedures. Above all, a collaboration of the three stakeholders with each being accountable to its responsibilities would limit the unlikely repeat of such a disaster.
Works Cited
Carrigan, Christopher, and Cary Coglianese. “Oversight in hindsight: Assessing the US regulatory system in the wake of calamity.” (2012).
Coglianese, Cary. Regulatory Breakdown: The Crisis of Confidence in U.s. Regulation. Philadelphia: University of Pennsylvania Press, 2012. Internet resource.
Lawrence, Anne. Ise Bus & Society: Stakeholders Ethc Public Policy. Place of publication not identified: Mcgraw-Hill, 2016. Print.
Newton-Matza, Mitchell. Disasters and Tragic Events: An Encyclopedia of Catastrophes in American History. , 2014. Internet resource.
